secwatch.observer — SEC 8-K summary
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Issuer:     RLJ Lodging Trust (RLJ)
CIK:        0001511337
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0001104659-24-104313
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RLJ Lodging Trust closes $500M term loan, repays $400M existing loan and $100M revolver
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- New $500M Tranche A-2 term loan matures Sept 24, 2027, with two 1-year extension options.
- $400M existing term loan (due May 2025) and $100M of revolver borrowings repaid with proceeds.
- $600M revolver (matures May 2027) and $225M Tranche A-1 term loan (matures May 2026) terms unchanged.
- Credit agreement allows potential increase of revolver to $750M and term loans to $600M each.
- Leverage covenant set at max 7.25x; 35bp rate increase if leverage exceeds 6.5x for a quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1511337/000110465924104313/0001104659-24-104313-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1511337/000110465924104313/tm2425164d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-104313

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer